ALBAWABA - The 10 wealthiest people in the world amassed a record $64 billion in fortune after Donald Trump was re-elected, marking an unparalleled wealth increase According to Bloomberg's Billionaires Index.
As an indication of investor optimism over expected pro-business policies, this one-day surge on Wednesday marks the highest since the index was first introduced in 2012.
Elon Musk, the CEO of Tesla, is the main beneficiary of the wealth gain, as his fortune grew by $26.5 billion to an incredible $290 billion. Musk, a vocal Trump supporter, benefited from a significant increase in Tesla's stock price with his 13% shares of the company, which puts him in line with Trump's approach of less government involvement, CNN reports.
Repeat after me: the “working class” did not overwhelmingly vote for Trump. The WHITE working class and their billionaire leaders did. pic.twitter.com/mmniXeWVM1
— Julian Go (@jgo34) November 6, 2024
Amazon founder Jeff Bezos subsequently received a $7.1 billion bump, raising his wealth to about $230 billion in the wake of the election, with the financial power of IT billionaires being further demonstrated by the $5.5 billion gained by Larry Ellison, the head of Oracle and another Trump acquaintance.
Trump's personal wealth increased as a result of his reelection. For a short period, Trump's stake in his conservative social media firm, Trump Media & Technology Group, increased by $1.4 billion to around $5.3 billion as its shares rose by up to 35%.
Not all billionaires, however, profited. The head of the luxury group LVMH, Bernard Arnault, saw his fortune drop by over $3 billion as European equities were under pressure. The creator of Facebook, Mark Zuckerberg, lost $81 million in his net worth as a result of his continued conflict with Trump, who has accused the social media company with prejudice before, according to The Guardian.
